Palomar (NASDAQ: PLMR) CFO logs RSU vesting and tax share sales
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Palomar Holdings, Inc. Chief Financial Officer T Christopher Uchida reported multiple transactions involving restricted stock units (RSUs) and related common shares. On 01/29/2026 and 01/31/2026, RSUs vested and were converted to common stock at an exercise price of $0.00, reflecting stock-based compensation.
In connection with these vestings, the company automatically sold shares on his behalf under a mandatory sell-to-cover provision to satisfy minimum tax withholding, including sales at $122.0423, $122.0435, and $121.7443 per share. After these transactions, Uchida directly owned 14,005 shares of Palomar common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,871 shares ($228,180)
Net Sell
10 txns
Insider
Uchida T Christopher
Role
Chief Financial Officer
Sold
1,871 shs ($228K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units (RSUs) | 1,054 | $0.00 | -- |
| Exercise | Common Stock (RSUs) | 1,054 | $0.00 | -- |
| Sale | Common Stock (RSUs) | 545 | $121.7443 | $66K |
| Exercise | Restricted Stock Units (RSUs) | 1,408 | $0.00 | -- |
| Exercise | Restricted Stock Units (RSUs) | 1,941 | $0.00 | -- |
| Exercise | Common Stock (RSUs) | 1,408 | $0.00 | -- |
| Sale | Common Stock (RSUs) | 511 | $122.0423 | $62K |
| Exercise | Common Stock (RSUs) | 1,941 | $0.00 | -- |
| Sale | Common Stock (RSUs) | 815 | $122.0435 | $99K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units (RSUs) — 0 shares (Direct);
Common Stock (RSUs) — 14,550 shares (Direct);
Common Stock — 11,473 shares (Direct)
Footnotes (1)
- Represents shares automatically sold by the Company on behalf of the Reporting Person pursuant to a mandatory sell-to-cover provision in the RSU award agreement required to cover minimum statutory tax withholding obligations that became due upon the RSU vesting event. The original RSU grant was for 4,226 shares on 1/29/2024. Subject to continuing service with the Company, the restricted stock units shall vest as follows: one-third (1/3) shall vest on the first year anniversary of the date of the grant; an additional one-third (1/3) shall vest on the second year anniversary of the date of the grant; and the final one-third (1/3) shall vest on the third year anniversary of the date of grant. The original RSU grant was for 5,823 shares on 1/29/2025. Subject to continuing service with the Company, the restricted stock units shall vest as follows: one-third (1/3) shall vest on the first year anniversary of the date of the grant; an additional one-third (1/3) shall vest on the second year anniversary of the date of the grant; and the final one-third (1/3) shall vest on the third year anniversary of the date of grant. The original RSU grant was for 3,162 shares on 1/31/2023. Subject to continuing service with the Company, the restricted stock units shall vest as follows: one-third (1/3) shall vest on the first year anniversary of the date of the grant; an additional one-third (1/3) shall vest on the second year anniversary of the date of the grant; and the final one-third (1/3) shall vest on the third year anniversary of the date of grant.
FAQ
What insider activity did Palomar (PLMR) report for its CFO?
Palomar’s CFO T Christopher Uchida reported RSU vesting and related common stock transactions. RSUs converted to common shares at a $0.00 exercise price, followed by automatic share sales to cover tax withholding obligations triggered by those vesting events.
Were the Palomar (PLMR) CFO’s stock sales discretionary or for tax withholding?
The reported Palomar stock sales were for tax withholding. Footnotes state shares were automatically sold by the company under a mandatory sell-to-cover provision in the RSU award agreement to satisfy minimum statutory tax obligations when RSUs vested.
What RSU grants underlie the Palomar (PLMR) CFO’s reported vesting events?
The vesting RSUs come from original grants of 4,226 shares on 1/29/2024, 5,823 shares on 1/29/2025, and 3,162 shares on 1/31/2023. Each grant vests in three equal annual installments, contingent on the CFO’s continuing service with the company.
What do the M and S transaction codes mean in the Palomar (PLMR) Form 4?
In this Form 4, code “M” denotes the exercise or conversion of RSUs into Palomar common stock at a $0.00 price, while code “S” indicates open market sales. The sales were executed automatically to cover minimum statutory tax withholding from the RSU vesting.